Conversion Ledger
Menu

PHA code IL022 · Large PHA · Illinois

Rockford Housing Authority

Rockford Housing Authority has closed 2 RAD conversions covering 218 public housing units. It still has 1,281 public housing units in 10 projects that HUD's May 2026 rents tool prices for RAD.

Of the closed deals, 0 went to project-based vouchers (PBV) and 2 to project-based rental assistance (PBRA). 2 used low-income housing tax credits and 0 carried FHA-insured debt.

Conversions

RAD Component 1 conversions for IL022, newest first
Development Type RAD units Status Closed Tax credits FHA Hard cost / unit
Orton Keyes CourtPBRA175ClosedAug 20174%$65,909
Fairgrounds Valleynew constructionPBRA43ClosedJul 20169%$229,581

Still public housing: 2026 RAD rents

HUD's rents tool sets a 2026 RAD contract rent for each unconverted project from its 2024 public housing funding, inflated by the 2025 and 2026 OCAF. Across IL022's remaining units that averages $1,052 a month, against a weighted PBV cap of $1,266 (110% of fair market rent, before the utility allowance). Where the RAD rent is below the cap, a Section 18 blend can raise the rent and the debt it carries.

Unconverted public housing projects, May 2026 RAD rents tool
Project Units 2026 RAD rent PBV cap PBRA cap 60/40 blend
Park Terrace IL022000414 283 $987 $1,018 $1,111 $1,008 Debt
Blackhawk Courts IL022000001 196 $1,110 $1,302 $1,421 $1,185 Debt
North Main Manor IL022000006 187 $907 $993 $1,083 $937 Debt
Fairgrounds Valley IL022000007 164 $1,001 $1,589 $1,734 $1,409 Debt
Olesen Plaza IL022000009 151 $942 $991 $1,081 $992 Debt
Scattered Sites IL022000021 149 $1,192 $1,634 $1,782 $1,399 Debt
Scattered Sites IL022000020 137 $1,358 $1,625 $1,773 $1,485 Debt
Jane Addams Park Apartments IL022000010 11 $705 $1,040 $1,135 $871 Debt
Scattered Sites Acq IL022000024 2 $1,134 $1,732 $1,889 $1,381 Debt
Scattered Sites Acq 2 IL022000025 1 $994 $1,711 $1,866 $994 Debt

Rents are monthly per unit, weighted across each project's bedroom mix. The caps are shown before HUD's estimated utility allowance. HUD calls the blend figures estimates. Project names are as reported to HUD.

Financing the next one

Send the deal to the commercial mortgage desk at Janover Capital LLC: debt for a conversion (FHA 223(f) or 221(d)(4), bank or bond), a Section 18 blend, or a refinance of a property that has already converted. Tell us where it stands, and a person at Janover Capital will reply.

Janover Capital LLC is not HUD, the RAD Resource Desk or a housing authority, and is not affiliated with or endorsed by any of them. Nothing here is legal advice or an offer of credit.

The deal
You

By sending this, you agree that Janover Capital LLC may contact you about your request by email, phone and text at the details you gave, including by automated means. Consent isn't a condition of any service. Message and data rates may apply; reply STOP to opt out. See our Privacy policy and Terms.

This goes to Janover Capital LLC only, not to HUD, FHA or a lender. It is an inquiry, not a loan application, and a person at Janover Capital will reply. Prefer email? hello@rad.loans

Get word of IL022's next RAD closing

Leave your email and we'll write when our refresh of the RAD Resource Desk data shows a new closing for Rockford Housing Authority.

Alert emails have not started on this site yet. Sign-ups are saved and wait until they do.

Sources: RAD Resource Desk Component 1 property export, downloaded ; HUD RAD Contract Rents Look-Up Tool, May 2026. Hard cost per unit divides reported hard construction costs by RAD plus non-RAD units; blank where HUD's export reports none. About the data.